NBT Bancorp Inc will purchase Alliance Financial Corporation in a deal valued at about $233.4 million to expand its footprint in New York.The deal is the latest in a spate of community bank acquisitions. Industry experts are expecting more mergers among small banks, which are looking to build scale and cut costs as they contend with historically low interest rates.The NBT-Alliance deal is valued at $48.24 per share -- a 22 percent premium to the stock's Friday close.Alliance shareholders will receive 2.1779 common shares of NBT for each Alliance share they own.
Alliance Financial Corporation (Alliance) is a financial holding company. Shares of ALNC traded higher by 16.49% or $6.5/share to $45.91. In the past year, the shares have traded as low as $27.55 and as high as $41.85. On average, 8009 shares of ALNC exchange hands on a given day and today's volume is recorded at 50470.
NBT Bancorp Inc. is a financial holding company. The Company?s business, primarily conducted through NBT Bank, N. Shares of NBTB fell by 3.56% or $-0.7894/share to $21.36. In the past year, the shares have traded as low as $19.14 and as high as $24.10. On average, 70880 shares of NBTB exchange hands on a given day and today's volume is recorded at 49390.
The Bancorp, Inc. is a financial holding company with a wholly owned subsidiary, The Bancorp Bank (the Bank). Shares of TBBK fell by 1.16% or $-0.13/share to $11.06. In the past year, the shares have traded as low as $7.09 and as high as $11.50. On average, 78886 shares of TBBK exchange hands on a given day and today's volume is recorded at 17980.
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